Let's take a look at three REITs from different industries that you could buy today.
Apartments: Equity Residential
Equity Residential (NYSE:EQR) is one of the largest owners, developers, and managers of residential properties in the United States. Its portfolio currently consists of 302 properties containing over 80,000 apartment units across major markets, including Boston, New York, Washington, D.C., Seattle, and San Francisco.
Equity Residential currently pays a quarterly dividend of $0.6625, equating to $2.65 per share annually, which gives it a yield of about 4.45% at today's levels. It has also raised its annual dividend each of the last two years and it could very well continue this streak in 2024 based on its recent financial performance.
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Cell Towers: Crown Castle Inc.
Crown Castle (NYSE:CCI) is one of the largest owners of shared communication infrastructure in the United States with a portfolio of more than 40,000 cell towers, approximately 115,000 small cell nodes, and approximately 85,000 route miles of fiber across every major U.S. market.
Crown Castle currently pays a quarterly dividend of $1.565 per share, equating to $6.26 per share annually, giving it a yield of about 4.5% at current levels. Crown Castle has also raised its annual dividend every year since it converted to a REIT in 2014, making it both a high-yield and dividend-growth play.
Storage Centers: CubeSmart
CubeSmart (NYSE:CUBE) is one of the nation's largest owners and managers of self-storage centers with a portfolio of nearly 1,400 properties across the United States.
CubeSmart currently pays a quarterly dividend of $0.51 per share, equating to $2.04 per share annually, which gives it a yield of about 5.8% today. CubeSmart also hiked its dividend in December, marking the 14th consecutive annual increase.
An Alternative Option: Arrived Homes
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